Word: fasted
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...money, it will slash the number of plants it runs, the number of brands it makes and the number of dealers who sell them. It proposed cutting its hourly manufacturing costs in half. CEO Rick Wagoner agreed to work for $1 a year. GM's business is going down fast because consumers are already shying away from a potentially bankrupt company - which is part of GM's argument for immediate funding...
...financial crisis. When asked about the discussion behind closed doors, Trichet would say only that the board reached a "consensus" on its decision. But consensus does not mean unanimous and there is plenty of reason to believe that some members think the ECB is going too far, too fast...
Will the ECB begin to act more like the U.S. Federal Reserve and cut fast and deep? While it has flooded European markets with cash in recent months in an effort to revive the interbank lending market, it has not engaged in the purchase of assets from banks like the Fed. Trichet said the ECB has the power to do so, but is not showing his hand...
There's a lot at stake. The worldwide lighting market is worth about $78 billion a year, and consumer luminaries alone - excluding the market for bulbs - is almost one-third of that. Philips is moving fast to expand from its traditional European base. Bijlsma reckons the firm's sales of LED and other low-energy lighting will double every year in emerging markets, and grow "at a fast pace" in mature markets. Philips is targeting Latin America, and also Asia, where it is planning branded showrooms in stores...
...Fast Facts...